Stanley Druckenmiller Duquesne Family Office
Stanley Druckenmiller is the founder of Duquesne Family Office and one of the most closely watched macro investors of his generation. He first became widely known as lead portfolio manager of the Quantum Fund alongside George Soros, including during the famous 1992 bet against the British pound. After returning outside capital, he has continued to invest with a flexible, top-down approach that blends macroeconomic views with concentrated equity and commodity positions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Financial Select Sector SPDR ETF
XLF
|
+$293M |
| 2 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$223M |
| 3 |
iShares MSCI Brazil ETF
EWZ
|
+$112M |
| 4 |
Sea Limited
SE
|
+$99.2M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$80.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$264M |
| 2 |
Insmed
INSM
|
+$172M |
| 3 |
Natera
NTRA
|
+$147M |
| 4 |
VRNA
Verona Pharma
VRNA
|
+$107M |
| 5 |
TSMC
TSM
|
+$65.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 28.89% |
| 2 | Miscellaneous | 21.42% |
| 3 | Consumer Discretionary | 15.38% |
| 4 | Technology | 10.8% |
| 5 | Industrials | 9.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Natera
NTRA
$53.2B
| $575M | 12.8% |
2,511,357
-703,175
| -22% | -$147M |
|
|
2
State Street Financial Select Sector SPDR ETF
XLF
$53.4B
| $301M | 6.7% |
+5,495,600
| New | +$293M |
|
|
3
Insmed
INSM
$26.2B
| $258M | 5.74% |
1,481,752
-941,683
| -39% | -$172M |
|
|
4
Invesco S&P 500 Equal Weight ETF
RSP
$97.5B
| $225M | 5% |
+1,173,925
| New | +$223M |
|
|
5
Teva Pharmaceutical Industries Limited
TEVA
$45.5B
| $183M | 4.08% |
5,874,870
-10,719,065
| -65% | -$264M |
|
6
Woodward
WWD
$19B
| $179M | 3.97% |
590,930
-42,085
| -7% | -$11.6M |
|
7
Amazon
AMZN
$2.74T
| $170M | 3.79% |
737,940
+300,870
| +69% | +$68.8M |
|
|
8
TSMC
TSM
$2.25T
| $165M | 3.67% |
543,085
-222,000
| -29% | -$65.1M |
|
9
Coupang
CPNG
$25.7B
| $160M | 3.55% |
6,772,909
+2,139,785
| +46% | +$60.9M |
|
|
10
CALL
iShares MSCI Brazil ETF
EWZ
$8.54B
| $134M | 2.99% |
+4,228,000
| New | +$134M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.27T
| $121M | 2.68% |
385,000
+282,800
| +277% | +$80.8M |
|
|
12
Sea Limited
SE
$62.3B
| $120M | 2.68% |
944,120
+669,920
| +244% | +$99.2M |
|
|
13
iShares MSCI Brazil ETF
EWZ
$8.54B
| $113M | 2.51% |
+3,552,575
| New | +$112M |
|
14
NewAmsterdam Pharma
NAMS
$2.69B
| $108M | 2.4% |
3,070,146
+1,146,446
| +60% | +$41.7M |
|
15
Mercado Libre
MELI
$90.6B
| $95M | 2.11% |
47,149
-11,195
| -19% | -$23.5M |
|
16
BBB Foods
TBBB
$6.19B
| $89.3M | 1.99% |
2,675,152
+1,492,027
| +126% | +$44.6M |
|
17
Restaurant Brands International
QSR
$25.4B
| $82.5M | 1.84% |
1,209,000
+77,635
| +7% | +$5.35M |
|
18
Cogent Biosciences
COGT
$5.47B
| $78.7M | 1.75% |
2,214,470
+1,154,890
| +109% | +$32.5M |
|
19
Alcoa
AA
$11.7B
| $73.1M | 1.63% |
+1,376,050
| New | +$56.3M |
|
20
Entegris
ENTG
$21.7B
| $71.1M | 1.58% |
+844,160
| New | +$73.3M |
|
|
DOCU
21
DocuSign
DOCU
$12.9B
| $69.7M | 1.55% |
1,019,085
-666,865
| -40% | -$46.1M |
|
22
Lattice Semiconductor
LSCC
$15.8B
| $68.1M | 1.52% |
+925,970
| New | +$65.9M |
|
23
Bloom Energy
BE
$78.2B
| $64.3M | 1.43% |
+740,545
| New | +$77.8M |
|
24
Wabtec
WAB
$47.3B
| $64.1M | 1.43% |
300,110
-2,300
| -0.8% | -$473K |
|
25
Roku
ROKU
$22.8B
| $63.2M | 1.41% |
582,980
-239,455
| -29% | -$24.3M |
|
Similar funds
Stanley Druckenmiller's Q4 2025 Portfolio in Review
As of Q4 2025, Stanley Druckenmiller held 93 positions worth $4.49B, up 11% from $4.06B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Stanley Druckenmiller withdrew a net $177M in Q4 2025, closing 31 positions and reducing 16 holdings. Its most notable exit was Verona Pharma, an estimated $107M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 29% of assets, down from 35% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
Against the trend, Stanley Druckenmiller opened a new position in State Street Financial Select Sector SPDR ETF worth $301M.
- Stanley Druckenmiller's largest Q4 2025 buy was State Street Financial Select Sector SPDR ETF: 5,495,600 shares worth $301M.
- Stanley Druckenmiller added most to Sea Limited in Q4 2025, an estimated $99.2M increase.
- Stanley Druckenmiller's biggest Q4 2025 reduction was Teva Pharmaceutical Industries Limited, cutting an estimated $264M.
- Stanley Druckenmiller fully exited Verona Pharma in Q4 2025, selling an estimated $107M.
- Stanley Druckenmiller's ten largest holdings make up 52% of its $4.49B portfolio in Q4 2025.
- Stanley Druckenmiller opened 28 new positions and closed 31 in Q4 2025.
- Stanley Druckenmiller's portfolio value rose 11% quarter-over-quarter to $4.49B.
Based on Duquesne Family Office's 13F filing for Q4 2025, filed 17 Feb 2026.